It’s the few that aren’t who account for the horror stories you might be hearing or reading about from time to time.There is a double solution to eliminate or at least significantly decrease these two risks:a.

By purchasing a multifamily property and living in one unit while renting out the others, you can significantly reduce or eliminate your housing expenses.

The money you make on renting-by-the-room could go towards paying down the principal....OR.....you could put that money into hyper-growth mode by investing it into say, an ETF.....regardless of which path you choose, you will soon have paid-down the principal and have that 20% equity that is needed to eliminate the PMI. 

A lot of sellers are burned-out landlords who like the idea of "passive income"/mailbox money after years of chasing late rent payments, dealing with tenant BS and maintaining the property (I use quotes for "passive income" b/c no income is truly passive IMO, a wise seller will still pay attention to what's happening with the property in case they need to take it back, but collecting payments like a bank is generally easier than collecting them like a landlord, you can set up ACH with the buyer's bank or hire a loan processing company to handle it). 

Replacing wall outlets and Pigtailing properly will help as you’ll eliminate the chance that any older outlets with steel screws or with bad connections are still in use.

The main "goal" of house hacking is subsidizing or completely eliminating your housing expense through renting out other portions of your home. 

I see a lot of narrative around, "cut your costs, eliminate unnecessary expenses" etc.

This exemption can substantially reduce or even eliminate your capital gains tax obligation, depending on the profit you realize from the sale.

The ACH transfers are slow but reliable.Cash: dangerous to handle that much cash, easy to lose, have stolenChecks: bounced check fees are a painPaypal and some other services: I have heard horror stories of accounts being frozen for weird reasons

I will be amending my contract to eliminate any issues with this in the future.